The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14 - Manufacture of wearing apparel
300 jobs Number of planned job losses
Announcement Date
29 June 2010
Employment effect (start)
31 May 2010
Foreseen end date
Description
The textile company Facontrofa announced its closure in Vila Nova de Famalicão due to financial difficulties. Although the company received the financial support from IAPMEI (Institute for the Support to Small and Medium Enterprises and Innovation) which injected two million euro to pay off debts, Facontrofa declared bankruptcy in May 2010. This decision forced the closure and the dismissal of 300 workers. Most of them worked in the factory, located in Vila Nova de Famalição, and the remaining were employed in 25 different shops. The bankruptcy was blamed on decreasing demands and the difficulty to find financial partners to continue the business.
Sources
29 June 2010: Visão
Citation
Eurofound (2010), Fancotrofa, Closure in Portugal, factsheet number 70796, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70796.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
